The 23-year-old Austrailian actor, who currently resides at Cyrus' home in LA, has been trying to break free for some time now, reported Us magazine.
"They're just weeks away from calling it off permanently," a source said.
It has also been reported that the couple are not even sleeping in the same room anymore.
Hemsworth and Jones, 35, were first photographed together leaving West Hollywood's Chateau Marmont on February 23.